Millennium Management LLC Purchases 3,201,530 Shares of Entergy Corporation (NYSE:ETR)

Millennium Management LLC raised its holdings in Entergy Corporation (NYSE:ETR - Free Report) by 474.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,876,985 shares of the utilities provider's stock after buying an additional 3,201,530 shares during the period. Millennium Management LLC owned 0.90% of Entergy worth $293,953,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Financial Advisors Inc. increased its stake in Entergy by 60.0% in the 4th quarter. Legacy Financial Advisors Inc. now owns 16,077 shares of the utilities provider's stock valued at $1,219,000 after buying an additional 6,028 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Entergy in the 4th quarter valued at $4,393,000. Flagship Harbor Advisors LLC increased its stake in Entergy by 74.3% in the 4th quarter. Flagship Harbor Advisors LLC now owns 7,959 shares of the utilities provider's stock valued at $603,000 after buying an additional 3,393 shares during the last quarter. LaFleur & Godfrey LLC acquired a new position in shares of Entergy during the 4th quarter worth about $217,000. Finally, Bank of Montreal Can increased its stake in shares of Entergy by 74.3% during the 4th quarter. Bank of Montreal Can now owns 670,923 shares of the utilities provider's stock worth $50,869,000 after purchasing an additional 286,005 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Entergy Stock Performance

NYSE ETR traded up $1.28 during trading on Friday, reaching $83.10. The company's stock had a trading volume of 2,444,486 shares, compared to its average volume of 3,688,589. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $35.80 billion, a price-to-earnings ratio of 34.13, a price-to-earnings-growth ratio of 2.34 and a beta of 0.62. Entergy Corporation has a 12 month low of $52.07 and a 12 month high of $88.38. The firm has a 50 day moving average price of $83.03 and a 200 day moving average price of $80.14.

Entergy (NYSE:ETR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.22. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.13 billion. Entergy had a net margin of 8.90% and a return on equity of 10.68%. During the same quarter in the previous year, the firm posted $0.54 EPS. As a group, equities analysts anticipate that Entergy Corporation will post 3.88 EPS for the current fiscal year.

Entergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 2nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, May 2nd. Entergy's dividend payout ratio is currently 77.92%.

Wall Street Analysts Forecast Growth

ETR has been the topic of several recent analyst reports. KeyCorp upgraded shares of Entergy from a "sector weight" rating to an "overweight" rating and set a $85.00 price objective on the stock in a research note on Wednesday. Morgan Stanley restated an "overweight" rating on shares of Entergy in a research note on Wednesday, April 23rd. Evercore ISI boosted their price objective on shares of Entergy from $75.00 to $86.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price objective on shares of Entergy from $87.00 to $98.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 11th. Finally, Barclays boosted their price objective on shares of Entergy from $88.00 to $91.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $86.04.

Entergy Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.